FBMKLCI
1681.54pts +34.39pts
(+2.09%) Volume 2.242b Value RM 3.138b
1) The KLCI enjoyed another day of strong gains closing
2.09% higher lifted by gains in key heavyweights GENTING +9.42%, DIGI +5.27%,
SIME +3.86% following a positive lead from Wall Street overnight and gains in
oil prices. Region was mixed ahead of the 2-day FED meeting commencing today
with gains in NIKKEI +1.43%, ASX +0.94% whilst SHCOMP -2.08%, HSI -0.51%
declined as a stock market probe was being conducted by the China Securities
Regulatory Commission on "violation of discipline". Construction
+2.0% index continued to outperform led by IJM +2.72%, GAMUDA +1.93%, MUHIBAH
+3.02%. Market breadth was positive with gainers outpacing losers 672 : 226.
Market futures closed at 1670 (11pt discount).
2) Heavyweights : GENTING +9.42% RM7.90, PBBANK +1.99%
RM18.38, DIGI +5.27% RM5.79, CIMB +4.07% RM5.11, SIME +3.86% RM8.08, AXIATA
+2.44% RM6.29, SKPETRO +6.95% RM2.00, PCHEM +2.50% RM6.15.
3) DBT: KNM
9.621mil @ RM0.51, JAKS 6.4mil @ RM0.995 (11.2% discount), HHGROUP 6.187mil @
RM0.43 (2.0% PUC @ 2.3% discount), YINSON 176k @ RM2.78 (2.5% discount).
4) Situational:-
GOB +14.29% RM0.520 - announced that Equine Park Country
Resort Sdn. Bhd., a wholly-owned subsidiary of Taman Equine (M) Sdn Bhd which
in turn is a wholly-owned subsidiary of the Company, had entered into a
conditional sale and purchase agreement with Pavilion Real Estate Investment
Trust, for the sale of a 5-storey shopping mall with a lower ground floor known
as "da:men USJ" together with 1,672 car park bays which form part of
the mixed development project currently undertaken by EPCR in USJ, Subang Jaya,
Selangor for a total cash consideration of RM488 million. The sale proceeds
arising from the Proposed Sale will be utilised to settle bank borrowings as
well as to finance working capital of the group.
5) GLOMAC Q1 07/15 Rev+15% RM123m Net +1% RM21.1m EPS
2.94
Results
in line with cons RM93m
Yoy, the higher revenue was attributable to continued contributions
by projects in Puchong Lakeside Residences, Saujana Rawang, Glomac Centro and
Reflection Residences. Net was marginally higher at RM21.1m. Net asset per
share attributable to shareholders improved from RM1.31 to RM1.34. Qoq, PBT
decreased by 36% due to higher revenue recognition for the previous period.
Ahead, group expects earnings for the year to be sustained given the unbilled
sales ( RM796m as at 4Q15) & future launches - Group is looking at FY16
sales target of RM600mn driven by RM800mn worth of new launches, with key focus
still on landed property. We keep a cautious tone over property sector outlook
given the effects of cooling measures and GST uncertainties still lingering;
Hold.
6) Market is expected to take the lead from the US FOMC's
meeting outcome. We still view that the FBMKLCI is still in consolidation mode,
taking comfort from the stronger Ringgit and crude oil prices, with immediate
resistance at 1685 points.
